The escalating trade tensions between the United States and China are hitting Idaho businesses.
Data from the U.S. Chamber of Commerce finds more than $289 million worth of Idaho exports are threatened by the ongoing escalations between the United States and China. Whey and modified whey exports to the Middle Kingdom account for more than $35 million in Gem State exports. Those are at risk, as are more than $21 million in exports of electronics equipment. According to the Idaho Department of Commerce, China is the state’s largest international trading partner by volume. In 2018, over $400 million in Idaho goods were exported to China.
If tariffs remain in place, for example, the beef industry could see every head of cattle decrease in value by more than $20 by the year 2023 – potentially costing Gem State ranchers more than $20 million over the next four years.
Meanwhile, a 10 percent retaliatory glass tariff put in place by China is hitting local winemakers, as big wineries are now buying up the domestic supply of wine bottles – leaving smaller, local operations with few options.
On its website,Idaho Commerce has a 26-page list of all the products impacted by the Trump Administration’s global trade policies. (Boise State Public Radio News)
